The Following Is the Adjusted Trial Balance Columns from the Worksheet

question 160

Essay

The following is the adjusted trial balance columns from the worksheet for Picture Perfect Photography.
Picture Perfect Photography
Adjusted Trial Balance
December 31,2018
$\begin{array}{|l|c|c|}\hline \text { Accounts } & \text { Debit } & \text { Credit } \\\hline \text { Cash } & \$ 15,000 & \\\hline \text { Accounts Receivable } & 30,000 & \\\hline \text { Prepaid Insurance } & 7,500 & \\\hline \text { Office Supplies } & 3,200 & \\\hline \text { Land } & 40,000 & \\\hline \text { Building } & 160,000 & \\\hline \text { Accumulated Depreciation--Building } & & \$ 12,000 \\\hline \text { Equipment } & 75,000 & \\\hline \text { Accumulated Depreciation--Equipment } & & 8,500 \\\hline \text { Accounts Payable } & & 12,000 \\\hline \text { Salaries Payable } & & 2,000 \\\hline \text { Unearned Revenue } & & 25,000 \\\hline \text { Mortgage Payable } & & 100,000 \\\hline \text { Ramirez, Capital } & & 21,290 \\\hline \text { Ramirez, Withdrawals } & 23,000 & \\\hline \text { Service Revenue } & & 289,000 \\\hline \text { Salaries Expense } & 61,000 & \\\hline \begin{array}{l}\text { Depreciation Expense--Building and } \\\text { Equipment }\end{array} & 6,150 & \\\hline \text { Office Supplies Expense } & 14,040 & \\\hline \text { Insurance Expense } & 14,000 & \\\hline \text { Utilities Expense } & 20,900 & \\\hline \text { Total } & \$ 469,790 & \$ 469,790 \\\hline\end{array}$ Using the information provided in the worksheet above,prepare an income statement for Picture Perfect Photography.

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Competence-Based

Refers to an approach or system that focuses on individuals' ability to meet specific standards or competencies.

Integrity-Based

A principle or approach that emphasizes honesty, ethical conduct, and consistency of actions and values.

Trust Repairing

The process of rebuilding confidence and reliability in a relationship after trust has been damaged or broken.

Wechsler

Refers to a series of standardized tests used to evaluate cognitive and intellectual abilities in adults and children.